Wednesday, January 6, 2010

20100106 1254 FKLI Mid Day Hourly Chart Study.


FKLI closed : 1296, changed : + 6 points, volume : High.
Bollinger band reading : Bullish but possible side way.
MACD Histrogram : weakening, partial profit taking.
Support : 1292, middle Bollinger band level.
Resistant : 1300, 1309 level.
Comment : FKLI Opened gap up higher and traded side way range bound due to partial profit taking activities through out the morning session. Should price break away from the plotted horizontal range will lead us to either a downward correction market or marching upward further.

No comments: